UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) June 19, 2012 (June 15, 2012)
STEEL DYNAMICS, INC.
(Exact name of registrant as specified in its charter)
Indiana |
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0-21719 |
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35-1929476 |
(State or other jurisdiction |
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(Commission File Number) |
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(IRS Employer |
of incorporation) |
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Identification No.) |
7575 West Jefferson Blvd, Fort Wayne, Indiana 46804
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: 260-969-3500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On June 15, 2012, Steel Dynamics, Inc. issued a press release titled Steel Dynamics Provides Second Quarter 2012 Earnings Guidance and Announces Second Quarter Cash Dividend. The full text of the press release is furnished herewith as Exhibit 99.1, shall not be deemed filed for purposes of Section 18 of the Securities and Exchange Act of 1954, as amended, and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished with this report:
Exhibit Number |
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Description |
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99.1 |
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A press release dated June 15, 2012, titled Steel Dynamics Provides Second Quarter 2012 Earnings Guidance and Announces Second Quarter Cash Dividend. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.
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STEEL DYNAMICS, INC. |
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/s/Theresa E. Wagler |
Date: June 19, 2012 |
By: |
Theresa E. Wagler |
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Title: |
Chief Financial Officer |
Exhibit 99.1
Press Release June 15, 2012 |
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7575 W. Jefferson Blvd. Fort Wayne, IN 46804 |
Steel Dynamics Provides Second Quarter 2012 Earnings Guidance and Announces Second Quarter Cash Dividend
FORT WAYNE, INDIANA, June 15, 2012 / PRNewswire / Steel Dynamics, Inc. (NASDAQ/GS: STLD) today provided second quarter earnings guidance in the range of $0.15 to $0.20 per diluted share. Second quarter 2012 estimated results are somewhat lower than the $0.20 per diluted share reported for the first quarter 2012 (which included January refinancing charges of $0.03 per diluted share), and lower than the $0.43 per diluted share reported for the second quarter of 2011.
Despite relatively stable sheet steel demand, including strength in the automotive, energy, construction equipment and agricultural sectors, the companys somewhat softer earnings estimate is primarily the result of decreased sheet steel pricing attributable to supply-side pressures from increased imports and increased domestic steel capacity.
Metals recycling earnings are also expected to be lower due to late second quarter pricing and volume pressures attributable to softer export markets and weaker mill buying patterns, resulting in an oversupplied environment. Due to inventory overhang, however, the benefits from decreased scrap pricing on the companys steel operations will not be fully reflected until the third quarter.
Dividends
The companys board of directors has declared a quarterly cash dividend of $0.10 per common share. The dividend is payable to shareholders of record at the close of business on June 30, 2012, and is payable on or about July 13, 2012.
About Steel Dynamics, Inc.
Steel Dynamics, Inc. is one of the largest domestic steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with annual sales of $8.0 billion in 2011, over 6,500 employees, and manufacturing facilities primarily located throughout the United States (including five steel mills, six steel processing facilities, two iron production facilities, over 70 metals recycling locations and six steel fabrication plants).
Forward-Looking Statement
This press release contains some predictive statements about future events, including statements related to conditions in the steel and metallic scrap markets, Steel Dynamics revenues, costs of purchased materials, future profitability and earnings, and the operation of new or existing facilities. These statements are intended to be made as forward-looking, subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) the effects of a prolonged or deepening
recession on industrial demand; (2) changes in economic conditions, either generally or in any of the steel or scrap-consuming sectors which affect demand for our products, including the strength of the non-residential and residential construction, automotive, appliance, and other steel-consuming industries; (3) fluctuations in the cost of key raw materials (including steel scrap, iron units, and energy costs) and our ability to pass-on any cost increases; (4) the impact of domestic and foreign import price competition; (5) risks and uncertainties involving product and/or technology development; and (6) occurrences of unexpected plant outages or equipment failures.
More specifically, we refer you to SDIs more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K, in our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission. These are available publicly on the SEC Web site, www.sec.gov, and on the Steel Dynamics Web site, www.steeldynamics.com.
Contact: Theresa E. Wagler, Executive Vice President and Chief Financial Officer+1.260.969.3500
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